Refinance agreement helps low voltage system expert release capital
Johnson & Phillips have over 25 years of experience in low voltage systems.
The business was looking to raise additional capital for reinvestment. For assistance, they approached Charles Wallace, Area Sales Manager at Close Brothers Asset Finance.
A tailored solution
Charles worked with Johnson & Phillips (Capacitors) Limited to understand their needs and challenges when it came to raising the capital. He suggested that refinancing some of the business’ assets using a Sale and HP Back agreement was the best solution.
By using a Sale & HP Back agreement, the business was able to use multiple assets as collateral; including a Versalift forklift truck and a Scania crane truck, helping them to secure the necessary funds.
Fuelling further success
Through a bespoke refinance agreement provided by Close Brothers Asset Finance, Johnson & Phillips (Capacitors) Limited were able to use their existing assets to help expand their business further, solidifying their position as an industry leader.
Charles Wallace commented: "Working with Johnson & Phillips has been a rewarding experience. Our tailored refinance solution has not only addressed their immediate financial needs but has also positioned them for continued growth and innovation. I look forward to working with them on further agreements in the future."
"The refinancing solution provided by Close Brothers Asset Finance has been instrumental in bolstering our financial position. It has enabled us to unlock the value of our existing assets, providing us with the capital necessary to drive our business forward. I wouldn’t hesitate to work with Charles again if we required finance in the future.” Neil Probert, Director, Johnson & Phillips (Capacitors) Limited
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